LONDON (Alliance News) - Standard Life Investments Property Income Trust Ltd Monday said it has bought three offices for about GBP13.3 million.
The portfolio, which has an initial yield of 7.4%, consists of offices in York, Milton Keynes, and Dartford.
"This purchase continues our approach of buying quality office properties in strong locations, let to prime tenants. We believe each of the offices has good potential for rental growth over the medium term, whilst providing an attractive income return in the meantime," Jason Baggaley, fund manager, said in a statement.
Standard Life Investments Property Income Trust shares were up 0.6% at 85.00 pence on Monday morning in London.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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